In 2003, 1,254 residents submitted prebate applications to take advantage of the income sensitivity provisions of the education property tax. A total of $865,447 in school tax adjustments was paid to Montpelier residents, an average adjustment of $690.15. This is a straight reduction of property taxes. The total payment is the equivalent of an overall 17 cent reduction distributed on an income based formula. This program is for households with incomes of up to $88,000.

Also in 2003, 673 Montpelier residents submitted applications for homeowner rebates. This program caps total property tax payments for people earning under $47,000 annually. At total of $636,132 was paid to Montpelier residents, an average rebate of $945.22. This is also a direct reduction of property taxes. The total payment represents the equivalent of an overall 12.5 cent reduction distributed on an income based formula.

State programs to mitigate property tax impacts on an income basis returned over 1.5 million dollars - the equivalent of 29.5 cents on the tax rate (over 10%) - back into Montpelier in 2003.